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Transit-oriented East Van site sells for $19.5 million

Former owner Coromandel Properties sought creditor protection last year
A local investor paid $19.5 million to acquire this 0.67-acre East Vancouver land assembly for transit-oriented development.

DEAL | This 0.67-acre development site just 50 metres from the Nanaimo SkyTrain station sold pursuant to a Dec. 13, 2023 court order. Consisting of nine lots with eight single-family residences, the property sold to local investors for $19.5 million. The price works out to nearly $29 million per acre. Zoned CD-1(210), the transit-oriented site is designated for a 25-storey tower under the Vancouver Plan. The property was listed with Bill Randall, Casey Weeks and Morgan Iannone of Colliers International in Vancouver.

PRICE | $19,500,000

FROM | Casey Weeks, Colliers International